Which is the best bank to open a checking account

Not all banks offer the same services and guarantees: weigh up your decision carefully

The banking scene in Spain is diverse and varied, as is the competition between institutions. However, so many options is no bad thing: each bank has a more or less determined profile, as well as a range of priorities for their customers. For this reason, to answer the question of which bank is best for opening an account, we need to take everyone's individual needs into account. To summarize: some institutions may be better for you than others.

Before deciding on one bank or another, it is important to understand the basic features of a bank account, the services it offers and, above all, the essential features of a quality banking product. These days, in the era of the technological revolution, you shouldn't settle for a simple account, since the possibilities go far beyond this.

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What is a checking account and how does it work?

Of all the types of bank accounts, a checking account can be considered the most common. The top checking account features include basic transactions such as direct debits, bill payments, transfers, deposits, refunds, etc. Banks will generally link debit or credit accounts to this type of account.

Therefore, a checking account can be defined as a tool for settling credit and debit movements that, when linked to one or more account holders, allows them to have access to and control their money in an immediate way.

In many institutions, the question of related transactions tends to play a significant role. In other words, to open an account, the customer is asked to have a regular income, a salary, standing orders for bills, etc. However, these conditions are just collateral and, although they should be taken into account, it's important to know what really sets an excellent account apart from a normal one. Because a high-quality checking account incorporates far more than what you might think, and this should determine which bank you choose.

What does a high-quality checking account give me?

Firstly, a high-quality checking account should be able to provide online management tools. And in this regard, you shouldn't settle for a simple web portal on your browser; rather, you should weigh specific factors before deciding on a bank, such as a high-quality mobile application or cash payment/withdrawal tools that don't require you to have your card with you. All of these are technological possibilities nowadays, so why not make use of them?

Again, it is also important to check the fees when choosing the bank you want to work with. Certain transactions and guarantees entail fees. However, when is it genuinely worth paying and when isn't it? Now there are more and more institutions, such as BBVA, that offer accounts with zero fees. Why pay if you can get it for free?

And thirdly, another very important factor to take into account with a checking account is the location and convenience of the branch for carrying out in-person transactions. Although nowadays many transactions can be done online, there are times when you need to visit a bank branch or go to an ATM to withdraw money on credit or debit with your card. For this reason, you need to ask the question: what ATM network can I use? Do I have a branch nearby?

What BBVA offers: No fees BBVA Online Account

BBVA has different types of bank accounts to suit all its customers' needs:

By meeting the conditions, you will be able to enjoy a fee-free account, free transfers to any bank and from any device, €0 administration and maintenance fees and cash withdrawals at more than 6,000 BBVA ATMs. Furthermore, there are added benefits, such as credit or debit cards, and many more BBVA products, including loans and mortgages.

Customers and non-customers can open accounts online, without paperwork and without needing to go in-person to a BBVA branch.

BBVA accounts offer so many advantages, including the over 3,000 branches and the BBVA App, winner of the Forrester award for best European online banking in 2017 and 2018.

With the BBVA App, you will have direct access to your accounts, but also to other products such as BBVA SmartPay, which lets you accept card payments with your smartphone. This is very useful if you are self-employed for example, since you won't miss out on any payments wherever you are.

If you would like more information on these checking accounts, or about any other BBVA product, please go to the 'Accounts and Cards' section in bbva.es where you will find more details. Here you will find detailed information to help you choose the best bank for opening a checking account.

BBVA Immediate Registration Service

BBVA puts at your disposal the Registration Immediate, which you allows the opening of your Online Account without Fees nor Terms and Conditions from your house, in just 10 minutes and without paperwork, being operations your account from the first moment. For this, only owe follow some single, which depend on if the process it carry out from bbva.es or from BBVA's app.  
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And if already have your account but in another bank?

If already have open an account in another company and wish bring it to BBVA, put at your disposal our Moving Service that sees to all the process of easy way and fast. So much available in bbva.es as in BBVA's app, this service you allows, also, change your income (for example, your salary or pension) or your bills (water, gas, telephone, internet, schools, etc.) in a comfortable way, fast and with no cost type.
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